Dividend-paying IAG today provided one of the London market’s few bright spots in a session dominated by US recession and tech sector worries. The British Airways owner surged 6% or 9.7p to 169.7p after results showed second quarter profits in line with the previous year’s record of 1.25 billion euros (£1.06 billion).
It also set aside 147 million euros (£125 million) for next month’s dividend payment of three euro cents. This will be IAG’s first distribution since the pandemic in a move chief executive Luis Gallego said showed confidence “in our performance and our transformation”.
